MENLO PARK, Calif., Jan 25, 2000 /PRNewswire via COMTEX/ -- E@TRADE
Group, Inc. (Nasdaq: EGRP) today announced its intention to raise
approximately $500 million, subject to market and other conditions,
through a Rule 144A offering of convertible subordinated notes. The
notes will be convertible, at the option of the holder, into shares of
E@TRADE's common stock and will be non-callable for three years.
E@TRADE expects to use approximately $150,000,000 of the net proceeds
to refinance outstanding senior secured indebtedness and the remaining
net proceeds for general corporate purposes, including financing the
future growth of the business.
This announcement is neither an offer to sell nor a solicitation of an
offer to buy any of these securities.
The notes will not be registered under the Securities Act of 1933 and
may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements under such
act.
Important Notice E@TRADE is a registered trademark of the company. All
other trademarks are properties of their respective owners. The
statements contained in this news release that are forward-looking are
based on current expectations that are subject to a number of
uncertainties and risks, and actual results may differ materially. The
uncertainties and risks include, but are not limited to, changes in
market activity, market acceptance of the Destination E@TRADE web site,
anticipated increases in the rate of new customer acquisition, the
conversion of new visitors to the site to customers, seasonality, the
development of new products and services, the enhancement of existing
products and services, competitive pressures (including price
competition), system failures, economic and political conditions,
changes in consumer behavior and the introduction of competing products
having technological and/or other advantages. Further information about
these risks and uncertainties can be found in the information included
in the annual report filed by the company with the SEC on Form 10-K
(including information under the caption "Risk Factors") and quarterly
reports on Form 10-Q.
CONTACT: press, Heather Fondo of E@TRADE, 650-331-5248, or
hfondo@etrade.com, or Bronwyn Wormell, 650-331-5978, or
bwormell@blancandotus.com, for E@TRADE; or investors, Susan Wolfrom,
650-331- 5303, or swolfrom@etrade.com; or Len Purkis, 650-331-6076, or
lpurkis@etrade.com, both of E@TRADE
SOURCE E@TRADE Group, Inc.
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: press, Heather Fondo of E@TRADE, 650-331-5248, or
hfondo@etrade.com, or Bronwyn Wormell, 650-331-5978, or
bwormell@blancandotus.com, for E@TRADE; or investors, Susan
Wolfrom,
650-331-5303, or swolfrom@etrade.com; or Len Purkis,
650-331-6076, or
lpurkis@etrade.com, both of E@TRADE
/Company News On-Call:
prnewswire.com or fax,
800-758-5804, ext. 136683
WEB PAGE: etrade.com
GEOGRAPHY: California
INDUSTRY CODE: MLM
FIN
SUBJECT CODE: OFR |
